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Noteworthy Friday Option Activity: CVNA, IRDM, MRVL

By Dividend Channel Staff, Friday, March 1, 3:28 PM ET

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Carvana Co (NYSE:CVNA), where a total volume of 132,448 contracts has been traded thus far today, a contract volume which is representative of approximately 13.2 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 135.2% of CVNA's average daily trading volume over the past month, of 9.8 million shares. Especially high volume was seen for the $110 strike call option expiring March 15, 2024, with 9,852 contracts trading so far today, representing approximately 985,200 underlying shares of CVNA. Below is a chart showing CVNA's trailing twelve month trading history, with the $110 strike highlighted in orange:

Iridium Communications Inc (NASDAQ:IRDM) options are showing a volume of 15,918 contracts thus far today. That number of contracts represents approximately 1.6 million underlying shares, working out to a sizeable 123.2% of IRDM's average daily trading volume over the past month, of 1.3 million shares. Particularly high volume was seen for the $40 strike call option expiring July 19, 2024, with 14,213 contracts trading so far today, representing approximately 1.4 million underlying shares of IRDM. Below is a chart showing IRDM's trailing twelve month trading history, with the $40 strike highlighted in orange:

And Marvell Technology Inc (NASDAQ:MRVL) saw options trading volume of 135,395 contracts, representing approximately 13.5 million underlying shares or approximately 112% of MRVL's average daily trading volume over the past month, of 12.1 million shares. Especially high volume was seen for the $85 strike call option expiring April 19, 2024, with 5,385 contracts trading so far today, representing approximately 538,500 underlying shares of MRVL. Below is a chart showing MRVL's trailing twelve month trading history, with the $85 strike highlighted in orange:

For the various different available expirations for CVNA options, IRDM options, or MRVL options, visit StockOptionsChannel.com.

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